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EU sets initial Sept 28 deadline for Deutsche Boerse/LSE review

Reuters - UK Focus

BRUSSELS, Aug 25 (Reuters) - EU antitrust regulators have set an initial deadline of Sept. 28 for their review of a planned merger between Deutsche Boerse (LSE: 0H3T.L - news) and the London Stock Exchange Group

The deal, which would create the world's biggest exchange by revenue, is likely to draw tough regulatory scrutiny because of the huge combined presence of the two companies in derivatives clearing.

The exchanges put in their request on Aug. 24, according to a filing on the European Commission website published on Thursday. The EU executive set a Sept. 28 deadline for its preliminary review.

Observers expect the EU scrutiny to broaden into a full investigation of about five months. Belgium, Portugal and the Netherlands have already expressed concerns about the deal. (Reporting By Philip Blenkinsop; editing by Robert-Jan Bartunek)